GE Appliances to invest over $3 billion in US manufacturing push
Global firms have been increasing their investments and presence in the United States after President Donald Trump pushed companies across sectors, including Apple (AAPL.O), opens new tab and Ford (F.N), opens new tab, to produce goods within the country and generate jobs.
The GE Appliances investment will create 1,000 jobs in five states and is aimed at expanding the company's air conditioning and water heating portfolio, increasing production output and modernizing its 11 U.S. manufacturing plants with new automation and capital equipment, the home appliances maker said.
Earlier this year, peer Carrier Global (CARR.N), opens new tab also said it planned to invest $1 billion over five years in the U.S.
By the time the plan is complete, Louisville, Kentucky-headquartered GE Appliances said it will have invested $6.5 billion across its U.S. manufacturing plants and distribution network since it was acquired by Chinese consumer electronics major Haier from General Electric (GE.N), opens new tab in 2016.
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